Swiss Re provides reinsurance, insurance and other forms of insurance-based risk transfer. The company’s mission is to make the world more resilient.
Indonesia Re is a state-owned enterprise that is engaged in reinsurance services with the goal of increasing knowledge and application of innovation in insurance and reinsurance; providing international standard reinsurance solutions to customers and increasing the supply and retention of reinsurance in Indonesia.
According to Swiss Re, the collaboration will act as a “catalyst” for digital transformation in Indonesia’s insurance industry.
Indonesia Re, administrator of the National Insurance Data Centre Management Agency (BPPDAN), has more than 70 re-insurers as its members. It enables fair and sustainable property insurance pricing by collecting accurate insurance information.
Swiss Re said the partnership involved development of a market dashboard for BPPDAN to offer its members premium and claims insights at a market and company level.
The insurer said the partnership will support the underwriting decisions of BPPDAN members as well as their strategic planning for risk management and pricing.
Paul Murray, Swiss Re’s regional president and CEO Reinsurance Asia, said, “Swiss Re is committed to building resilience as the industry faces significant global change.
“As Indonesia plays an important role in Southeast Asia, we see this partnership as a great example of how we can suppport Indonesian insurers to make the country more resilient through digital solutions, beyond traditional risk transfer.”
Monami Mukherjee, head P&C Analytics APAC at Swiss Re, added, “Heightened risk awareness in Indonesia is fueling more demand for insurance protection. To remain competitive in a dynamic risk environment, enhancing underwriting performance and portfolio steering are key differentiators for insurance organisations.”
Swiss Re recently expanded its partnership with Verily, which uses technology to better understand health.
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